(Reuters) – Car-sharing company Getaround Inc on Wednesday said it has raised $140 million in additional venture capital funding at a time when its business is seeing growing demand and recovering from a collapse during the early days of the coronavirus pandemic.
The San Francisco-based company, backed by Japan’s SoftBank Group Corp <9984.T>, has raised a total of nearly $600 million since it was founded more than ten years ago and in previous rounds was valued at more than $1.5 billion.
The company allows private vehicle owners to rent out their cars through Getaround’s platform on an hourly or daily basis and operates in over 100 U.S. cities and more than 170 European locations after the company acquired a local competitor in 2019.
Getaround’s business suffered during the initial outbreak of the novel coronavirus in March and April, when demand dropped 75% and the company sought financial support from a
xpate, the startup set on revolutionising payments with one unified account for all payment methods and innovative drag and drop interface, announces its appointment of Wirecard’s former Head of Sales Digital UK and Ireland, Wayne Mckenzie.
The appointment follows xpate’s plans to accelerate its growth in preparation for its wider launch to market. It is currently in early access mode, with 300 companies able to access the platform and around 50,000 transactions being processed per day.
Wayne has accumulated a wealth of expertise over his 14-year payments career. With experience at NatWest, Royal Bank of Scotland, Worldpay, Barclaycard and, most recently, Wirecard, he is well-versed in an array of industry specialisms, including low-risk merchants, large retailers, travel, mobility, PayFac and issuing.
In his new role as xpate’s Head of Business Development, Wayne Mckenzie will be using this in-depth knowledge and his expert connections to promote the startup’s services
Mastercard, a global technology company in the payments industry, has partnered with Signzy, a RegTech startup based in India, for global rollout of Signzy’s video-based KYC (Know Your Customer) solution for its banking customers.
With this partnership, Mastercard customers will benefit from a completely paperless, remote and secure onboarding solution for end-users. It maybe recalled that Reserve Bank of India (RBI) had in January this year amended its KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers.
Signzy’s Video KYC solution will enable end-users to complete and submit their KYC application from the safety and security of their homes. This would be 99 per cent faster than the traditional paper-based KYC process. Signzy is an Artificial Intelligence-powered Robotic Process Automation platform for financial services.
Technology startup offers personalized and print boutique-quality greeting cards
Card Isle was founded in 2013 by three Virginia Tech engineering students passionate about making greeting cards more personal, accessible and fun! www.cardisle.com
Card Isle www.cardisle.com
Richmond, VA, Oct. 12, 2020 (GLOBE NEWSWIRE) — The Center for Innovative Technology (CIT) today announced that the Virginia Founders Fund (VFF) has invested in Card Isle, a Blacksburg, Va.-based technology company that is rethinking how greeting cards can be distributed in a changing retail landscape. Card Isle offers turnkey solutions to design, order, and print personalized greeting cards, and will use this capital from VFF to continue their rapid growth in the eCommerce gifting sector and develop new markets.
Greeting cards have a unique ability to connect people
The COVID-19 tsunami has caused many ships to sink. But the beauty of a bootstrapped, revenue-generating startup boat is that it can quickly steer and ride the wave.
When Vikram Rajput, Founder of medical device startup Subhag HealthTech, felt the rising tide threaten to drown his fledgeling startup, he did what all hustle-happy founders do. He pivoted.
The startup that was set to take off in India this year with its low-cost, home-based IUI (Intrauterine insemination) treatment solution, temporarily shifted gears and started manufacturing face masks — the frontline defence against the dreaded virus.
But it is no ordinary face mask. The copper-infused face mask, named VSafe, is one step ahead in its protection promise as copper is considered a naturally antimicrobial material and is believed to be more resistant to the coronavirus.
“We had started offering our IUI solution in Bangalore
Starting a business in high school may seem intimidating for some teenagers. But for five South Carolina students, what started as a school project has evolved into an opportunity to compete for $7,000 in seed money they can use to launch their own company.
These finalists, selected from high schools across the state, will have the chance to present their business plan at 7 p.m. Tuesday before a panel of entrepreneurship experts during the South Carolina State Business Plan Competition hosted by Youth Entrepreneurship South Carolina.
The group, also known as YEScarolina, is a nonprofit dedicated to teaching and guiding young entrepreneurs across the Palmetto State. Since its founding in 2004, the group has certified over 1,000 educators how to teach business classes. Those educators have gone on to help tens of thousands of students hungry to learn more about entrepreneurship, said Executive Director Tracy Bradshaw.
Here’s an odd quirk of this pandemic-recession; while there’s been a surge of business closures, there’s also been a surge of new business formations.
The Wall Street Journal highlighted this recently. Applications for employer ID numbers are up 19% so far this year, at 3.2 million as of mid-September, versus just 2.7 million at the same time last year.
Now, some of those new “businesses” may in fact just be independent contractors and gig workers who aren’t going to employ other people. But applications by “likely employers” are also running up 12% versus the same period last year, to 1.1 million. What’s more, they’re running at the strongest pace since 2007 (chart below).
Let’s be sure to note this won’t fully offset the loss of approximately 700,000 businesses this year, according to economist Steven Hamilton of George Washington University. Less than half of new businesses typically make it longer than
Around the world, the Covid-19 crisis is pushing more people to browse and buy online, rather than take the risk of venturing to a physical shop. That impulse can be even stronger in a country suffering political turmoil. In a place like Libya, for example, the idea of e-commerce can seem particularly compelling.
“Not only with Covid, but also with the civil conflict in Libya, people don’t want to go half-way across the city to just have a browse,” says entrepreneur Saleh el Busefi. “Especially if they’re able to do that from their mobile phone and have it delivered to their workplace or their home.”
El Busefi grew up in London, U.K. but has been living and working in Libya on and off for the past decade. For most of that time, the country
From washing cars and selling cookies, to expensing vehicles and buying assets — you’ve come a long way.
Whether you washed cars for pocket money, sold cookies to raise money for your organization, or did something else to earn money as a kid, you’ve probably had the entrepreneurial spirit your whole life. Now that you’ve taken your business dream into the marketplace, you’ll find that things are different than they used to be.
We’ve put together a few tax tips that will make things easier for you (and please Uncle Sam), including:
How to choose an accounting method
What to do about estimated taxes
Which expenses to track
When you’re launching a startup, you have a lot of things on your mind, and tax considerations probably aren’t among them. But there are a few simple things you can do right now and in the months ahead to make things easier
You’ve finally launched your new business. Congratulations!
Now, it’s time to make people aware of your presence, as well as your products and services. The best way to do this? Strong branding and a custom marketing plan – two crucial components that don’t come cheap.
That’s what this article is all about: crafting a startup marketing budget. We want to talk to you about the costs of promotion, how to project your future finances, and methods for deciding where to spend your advertising dollars.
At this pivotal moment in your startup or new business’s growth, it’s essential that you plan out your marketing spending. You need an effective, well-thought-out strategy to advertise your shiny new products/services to the right customer segment.
Spending too much on initial marketing can break your growing brand – but spending too little can lead to a lack of brand awareness and revenue.